"Fortress's excellent track record speaks for itself, and we look forward to benefitting from its leadership, broad-based expertise and world-class investment platform", SoftBank CEO Masayoshi Son said in a statement. The merger resulted in $8.08 per share in cash for Fortress Investment's shareholders, which is 39% premium to Monday's closing price on February 13.

Do you own shares of Fortress Investment Group LLC (NYSE: FIG)? SoftBank intends to buy Fortress Investment Group entirely in cash (no cheque). However, the deal is subject to approvals by Fortress shareholders, certain regulatory approvals and other customary closing conditions.

After announcing the SoftBank Vision Fund a year ago, chairman Masayoshi Son proceeded to hire a collection of former Deutsche Bank AG executives, including Akshay Naheta, to help run the money out of an office in London's Mayfair.

"SoftBank is not doing a great job in communicating where this fits into their investment strategy", said an analyst at Iwai Cosmo Securities Tomoaki Kawasaki. Briger was hired from Goldman Sachs Group Inc.in 2002. "There isn't enough information and some people have an impression that this is an investment by the Vision Fund".

The firm aims to close the first round of investment in the fund this month. The three founders became billionaires when the firm went public in 2007, but shares have slumped by nearly two-thirds since the listing after the company faced volatile performance during the financial crisis and struggled to explain its value to public shareholders.

But the company's performance slumped during the financial crisis and has traded as low as $.077 per share.

Fortress also manages $7.1 billion in private equity funds, $18.3 billion in alternative credit investments in partnership with Mount Kellett Management, and $33.4 billion in traditional fixed income through its Logan Circle division (these figures are as of Q3).

From the start of the year 2015, SoftBank brought approximately 44-billion dollar investments and acquisitions. In Spetember 2016, it agreed to pay more than $30 billion for ARM Holdings, the UK-based software company. Nizar Al-Bassam and Dalinc Ariburnu of F.A.B.

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